Latest news with #InternationalSecuritiesMarket
New Straits Times
01-07-2025
- Business
- New Straits Times
Yinson unit issues US$1.16bil project bond to refinance FPSO vessel
KUALA LUMPUR: Yinson Holdings Bhd's subsidiary Yinson Production has successfully placed a US$1.168 billion (US$1= RM4.20) project bond to refinance the floating production, storage and offloading (FPSO) vessel Maria Quitéria. Yinson Production is a global energy infrastructure and technology company active in offshore energy. In a statement today, Yinson Production said the notes were issued by its subsidiary Yinson Bergenia Production BV, the owner of the FPSO, which is operating under a 22.5-year lease and operate contract with Petrobras in the Jubarte field, offshore Brazil. "The notes are fully amortising with a final maturity of 19.6 years and were priced at a fixed coupon of 8.498 per cent, payable semi-annually. "The proceeds from the transaction will be used to refinance the existing outstanding debt related to the FPSO, fund reserve accounts as required under the new bond issue (unless funded by letters of credit), pay for transaction related fees and expenses, and for distributions to Yinson Production as shareholder of the issuer," it said. It said that the notes are expected to settle on July 7, 2025 and will subsequently be listed on the London Stock Exchange's International Securities Market. Yinson Production chief financial officer Markus Wenker said it is the largest and longest-dated FPSO project bond ever issued. "With this bond issue, we further strengthen Yinson Production's capital structure and create long-term value, while offering noteholders exposure to a high-quality asset with robust downside protections and an uncapped investment grade structure," he said. Credit rating agencies Moody's and Fitch have assigned the notes credit ratings of Ba1 and BB+ respectively, reflecting the FPSO's strong credit fundamentals and its strategic importance to Petrobras. Citigroup and JP Morgan acted as global coordinators for the offering, while HSBC, ING, Santander and Standard Chartered Bank served as joint bookrunners. -- BERNAMA
Yahoo
16-05-2025
- Business
- Yahoo
UK neobank Zopa secures $106m in AT1 capital
Zopa, a UK-based digital bank, has secured £80m ($106.4m) in Additional Tier 1 (AT1) capital from both current and new investors. It follows an £80m ($106.4m) equity fundraising in November 2024. The bond issuance took place on the International Securities Market (ISM) of the London Stock Exchange (LSE). Jefferies was the structuring adviser and sole lead manager for the transaction that was oversubscribed by more than two times, with over 20 investors taking part. The funds will be utilised to enhance Zopa's balance sheet while avoiding shareholder dilution as the company prepares to launch its flagship bank account. The new bank account aims to offer competitive value and convenience to customers, addressing a broader range of financial needs. Zopa's pre-tax profits doubled to £34.2m ($45.4m) for the financial year ending 31 December 2024, alongside a 30.2% increase in revenue. In addition, Zopa has formed partnerships with major entities such as Octopus Energy to enter the UK's £23bn ($30.5bn) renewable energy sector and John Lewis to provide personal loans to its 23 million customers. Zopa will integrate its digital-first personal loan product into the John Lewis Money website, providing the retailer's customers with straightforward and transparent financing options. Since its bank launch in 2020, Zopa has attracted £5.5bn ($7.31bn) in deposits and currently holds over £3bn ($3.9bn) in loans on its balance sheet. The company employs nearly 850 staff and plans to expand its office space with a move to Canary Wharf. "UK neobank Zopa secures $106m in AT1 capital" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
05-05-2025
- Business
- Zawya
OMNIYAT raises USD 500mln with inaugural green sukuk to support growth and progress sustainability strategy
OMNIYAT successfully prices a 3-year USD 500 million green sukuk Dubai, UAE: OMNIYAT, Dubai's leading ultra-luxury real estate developer, has successfully priced its inaugural green sukuk issuance, raising USD 500 million through a 3-year Islamic offering. This transaction marks the Company's entry into the international debt capital markets and reaffirms its commitment to long-term financial strength and sustainable development. The sukuk will be listed and traded on Nasdaq Dubai and on the London Stock Exchange's International Securities Market (ISM). The sukuk was met with very strong demand from international and regional investors, with the order book oversubscribed 3.6x times, reaching USD 1.8 billion. The proceeds from the issuance will be used in line with OMNIYAT's Green Financing Framework to primarily finance investments in sustainable development. This framework is fully aligned with the ICMA Green Bond Principles (GBP) 2021, ensuring international best practice and investor transparency. Mahdi Amjad, Founder & Executive Chairman at OMNIYAT, commented: ' Our debut into the international debt capital markets with a green sukuk is a major milestone for OMNIYAT. It underscores our commitment to sustainability, prudent capital management, and delivering long-term value to our stakeholders. The overwhelming investor interest validates confidence in our strategy, brand strength, and the fundamentals of the Dubai luxury real estate market. We are deeply grateful to our banking partners for their instrumental role in delivering such a successful outcome. As we look to the future, sustainability sits at the core of our development philosophy. This green financing instrument aligns with this vision by supporting high-performance, environmentally efficient projects across our portfolio.' The issuance follows OMNIYAT'S 'BB-' long-term credit rating assigned by S&P Global and a first-time Long-Term Issuer Default Rating (IDR) of 'BB-' by Fitch Ratings, with both rating agencies assigning a stable outlook. This reflects OMNIYAT's strong brand, leadership in the high-end residential segment, and a robust order backlog, which is expected to support predictable revenue growth and deleveraging over the next two years. OMNIYAT's business model, underpinned by strategic developments in prime locations such as Palm Jumeirah and Business Bay, has enabled the Company to capture consistent demand from high-net-worth international buyers and reinforce its leading position in the ultra-high-end luxury real estate market in Dubai. Abu Dhabi Commercial Bank, Citi, Dubai Islamic Bank, Emirates NBD Capital, J.P. Morgan, Mashreq and Standard Chartered Bank acted as Joint Global Coordinators. Those banks along with Ajman Bank, Bank of Sharjah, Commercial Bank of Dubai, First Abu Dhabi Bank, Kamco Invest, RAKBANK, Sharjah Islamic and Warba Bank acted as Joint Lead Managers and Bookrunners for the issuance.
Arab News
01-05-2025
- Business
- Arab News
PIF announces pricing of $1.25 billion international sukuk offering
RIYADH: The Public Investment Fund on Thursday announced the pricing of a $1.25 billion sukuk offering, with the proceeds of the dollar-denominated offering to be used for PIF's general corporate purposes. The seven-year sukuk was more than 6.5 times oversubscribed, with orders exceeding $9 billion, according to a media statement. The sukuk will be listed on the London Stock Exchange's International Securities Market as part of PIF's international sukuk issuance program. Ahmed Alrobayan, head of public markets, global capital finance, at PIF, said: 'The strong investor demand for this new sukuk offering underscores PIF's robust credit profile, along with its role as a key driver of Saudi Arabia's economic transformation.' The transaction represents a continuation of the established and diversified financing strategy, which draws strong support from international investors, Alrobayan said. PIF's long-term capital-raising strategy includes a diverse range of instruments, including sukuk and bond programs. PIF has completed its inaugural murabaha credit facility since earlier this year, and last August renewed a revolving credit facility. PIF is rated Aa3 by Moody's with a stable outlook, and A+ by Fitch, also with a stable outlook.
Zawya
28-04-2025
- Business
- Zawya
IPTs for Omniyat's green sukuk in high 8% area
The initial price thoughts (IPTs) for Dubai-listed luxury developer Omniyat Holdings' three-year green sukuk are in the high 8% area. The real estate company has mandated banks to issue the senior unsecured Reg S category 2 sukuk on May 6 on London Stock Exchange's International Securities Market and Nasdaq Dubai to finance eligible green projects. ADCB, Citi, DIB, ENBD Capital, JP Morgan, Mashreq and Standard Chartered Bank are the joint global coordinators, while ADCB, Ajman Bank, Bank of Sharjah, Citi, CBD, DIB, ENBD Capital, FAB, JP Morgan, Kamco Invest, Mashreq, RAKBANK, Sharjah Islamic Bank, Standard Chartered and Warba Bank are joint lead managers and joint book runners. (Writing by Imogen Lillywhite; editing by Brinda Darasha)
